US jobless claims show surprise rise
US jobless claims show surprise rise
By Alan Rappeport in Washington
Copyright The Financial Times Limited 2010.
Published: February 25 2010 14:10 | Last updated: February 25 2010 14:10
http://www.ft.com/cms/s/0/85763cb4-2215-11df-98dd-00144feab49a.html
The number of US workers making new claims for jobless benefits recorded a surprising increase last week, offering more evidence that the labour market’s recovery will be rocky.
Initial jobless claims rose by 22,000 to 496,000, the labour department said on Thursday. Economists were expecting jobless claims to fall during the week.
The less volatile, four-week average of claims rose, climbing by 6,000 to 473,750 while those continuing to claim unemployment benefits also rose by 6,000 to 4.61m.
The disappointing jobless figures follow a sharp drop in consumer confidence earlier this week, which was pulled back by growing anxiety about the labour market.
Some relief could be in sight, however, as the US senate on Wednesday passed a $15bn jobs bill that will provide tax incentives to businesses that hire new workers. The legislation is expected to create about 250,000 jobs.
Meanwhile, the commerce department said on Thursday that new orders for durable goods jumped last month thanks to greater demand for aircraft. The rise is another sign that the manufacturing sector will show continued strength.
Durable goods orders rose by 3 per cent to $175.7bn. That was the biggest increase since last July and was fuelled by a 126 per cent surge in new orders for civilian aircraft.
Excluding transportation orders, which tend to be volatile, demand for long-lasting goods was down by 0.6 per cent.
By Alan Rappeport in Washington
Copyright The Financial Times Limited 2010.
Published: February 25 2010 14:10 | Last updated: February 25 2010 14:10
http://www.ft.com/cms/s/0/85763cb4-2215-11df-98dd-00144feab49a.html
The number of US workers making new claims for jobless benefits recorded a surprising increase last week, offering more evidence that the labour market’s recovery will be rocky.
Initial jobless claims rose by 22,000 to 496,000, the labour department said on Thursday. Economists were expecting jobless claims to fall during the week.
The less volatile, four-week average of claims rose, climbing by 6,000 to 473,750 while those continuing to claim unemployment benefits also rose by 6,000 to 4.61m.
The disappointing jobless figures follow a sharp drop in consumer confidence earlier this week, which was pulled back by growing anxiety about the labour market.
Some relief could be in sight, however, as the US senate on Wednesday passed a $15bn jobs bill that will provide tax incentives to businesses that hire new workers. The legislation is expected to create about 250,000 jobs.
Meanwhile, the commerce department said on Thursday that new orders for durable goods jumped last month thanks to greater demand for aircraft. The rise is another sign that the manufacturing sector will show continued strength.
Durable goods orders rose by 3 per cent to $175.7bn. That was the biggest increase since last July and was fuelled by a 126 per cent surge in new orders for civilian aircraft.
Excluding transportation orders, which tend to be volatile, demand for long-lasting goods was down by 0.6 per cent.
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